Market Research Hub (MRH) has a new research study analyzing the key developments in car and ride sharing markets in the US. The report is titled "Car-Sharing and Ride-Sharing-US-February 2018" and it offers in-depth analysis on the emerging trends of the market with a detailed overview on the impact rising popularity in car and ride sharing on the auto sales and cab industries in the US.
According to the report, US consumers are focusing on quick and efficient mobility solutions, and a result, car sharing and ride sharing services have gained traction in the recent past. The car sharing and ride sharing services are mostly booked through mobile apps, and technological advantages these services have over traditional cab booking systems are driving adoption. However, after an initial phase of buoyancy, preference for car and ride sharing is waning, with car ownership witnessing an increase. Car sharing and ride sharing is more pervasive among one-car households.
The car and ride sharing industry in the US is also influenced by macroeconomic factors such as fuel prices and legislation. The prevailing low oil prices have made car ownership attractive, with many consumers thinking of ownership as a cost-effective option over car and ride sharing. The recent negative publicity surrounding Uber has also led to a decline in positive perception towards car and ride sharing, with # DeleteUber trending on various social media platforms.
The report also offers detailed analysis on the key developments in the competitive landscape of US car and ride-sharing market. According to the report, Lyft is gaining market share, whereas Uber has been plagued by public relations crisis over its corporate culture. Google Waymo has the potential to disrupt the market, whereas car2go is expanding its consumer base, having reached over a million members in North America. The car and ride sharing market in the US is fiercely competitive, and market players will need to continuously innovate for consolidating their position.
The report stated that almost 20% of car and ride sharing users in the US use the service frequently, with commuting to and from work being the most common purpose for booking. Bars and airports are the other destinations where car and ride sharing is high. Other reasons include limited parking spaces and ease of convenience.
SOURCE Market Research Hub
Edited by Victoria Haviland
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